Euro Technical Outlook

Published May 19th, 2008 - 06:11 GMT
Al Bawaba
Al Bawaba

The push through 1.5570 confirms that our bullish stance is correct (and also completes an inverse head and shoulders).



The rally from 1.5283 could be a series of 1st and 2nd waves or wave i of a diagonal.  Either way, look higher near term.  Risk can moved to 1.5396, but support should be strong in the 1.5533/55 zone. 

STRATEGY:  Bullish, against 1.5396, target TBD